Meet OpenUSDT: The unified stablecoin that scales with the Superchain.
Developed in collaboration between Celo, Chainlink, Hyperlane, with liquidity hosted on Velodrome, OpenUSDT is an interoperable version of Tether USDT that solves 2 key problems:
Liquidity fragmentation. Currently, every blockchain without native USDT needs to deploy siloed versions of bridged USDT. You end up with a different version of USDT on every chain.
Scaling to many chains. The OP Superchain is a network of chains that is rapidly growing, featuring 30+ chains on mainnet and dozens more on testnet. How does a stablecoin reach all of these new chains?
OpenUSDT Features
OpenUSDT is a crosschain stablecoin that supports:
- Interoperability across all major Superchain networks today.
- Permissionless Expansion to new Superchain networks as they launch.
- Seamless transition to native Superchain interop in the future.
- Forward compatibility with native USDT, enabling transition to native USDT minting on a chain-by-chain basis with Tether.
How it Works
- Celo is the only existing Superchain network with natively minted USDT, so it acts as the OpenUSDT minting hub.
- Hyperlane Warp Routes connect Celo to the rest of the Superchain networks, enabling OpenUSDT interoperability.
- Where available, Chainlink CCIP secures OpenUSDT transfers as a Hyperlane Interchain Security Module (ISM). Specifically, CCIP secures transfers between chains where CCIP is deployed and over $250k in transfer value.
Many of OpenUSDT’s key features are only possible with Hyperlane:
- Permissionless Expansion is possible because Hyperlane was designed for anyone to deploy it to new chains out-of-the-box.
- The Chainlink security module and compatibility with future Superchain native interop is possible because of Hyperlane’s Modular Security design. By enabling security customization with ISMs, Hyperlane is effectively future proof, allowing any verification method such as Chainlink CCIP and Superchain native interop to be plugged in.
What’s Next?
Starting today, OpenUSDT is available on the following chains:
Celo, Optimism, Base, Soneium, Unichain, Mode, Lisk, Fraxtal.
And more Superchain networks will be added over time as they launch.
Velodrome is the primary trading venue for OpenUSDT at launch. Trade now: velodrome.finance
Start using OpenUSDT today: openusdt.xyz
More about Hyperlane
Hyperlane is the open interoperability framework. It empowers developers to connect anywhere onchain and build applications that can easily and securely communicate between 130+ blockchains. Importantly, Hyperlane is fully open-source and always permissionless to build with.
